Core Viewpoint - The new generation of enterprises in Shenzhen is shifting from a focus on speed and resource integration to a deeper, more sustainable approach that emphasizes product development and innovation, while leveraging existing strengths in technology and industry [1][29]. Group 1: Shenzhen's Economic Evolution - Shenzhen's competitive edge historically stemmed from its rapid resource integration and market responsiveness, exemplified by the "one-meter counter" model in Huaqiangbei, which has produced numerous billionaires [2][3]. - Recent discussions suggest that the innovative vitality represented by the "one-meter counter" is fading, with new first-tier cities like Hangzhou and Hefei gaining momentum in emerging industries [2][3]. Group 2: New Business Models and Innovations - New enterprises are exploring innovative solutions, such as humanoid robots for production tasks, advanced automotive electronics, and AI-driven systems for collaborative work [3][4]. - Companies like Youbixun and Zhifang are developing humanoid robots for industrial applications, while Ouyue Semiconductor focuses on next-generation automotive chip development [3][4]. Group 3: Infrastructure and Support Services - Hardware innovation service providers like Jialichuang are lowering barriers for hardware startups by offering comprehensive services from PCB prototyping to assembly [4][11]. - The shift in business logic from the "one-meter counter" model to these new enterprises indicates a transformation in Shenzhen's growth dynamics [5]. Group 4: Rapid Prototyping and Talent Pool - Shenzhen's innovation process emphasizes rapid prototyping, where ideas are quickly turned into tangible products, supported by a dense network of suppliers and skilled professionals [7][8]. - The concentration of talent in specific sectors, such as the "robot valley," enhances the efficiency of product development and iteration [8][9]. Group 5: Globalization and Market Strategy - New enterprises are adopting global strategies, with companies like Daotong Technology establishing production bases in multiple countries to mitigate geopolitical risks and enhance regional collaboration [19][20]. - KuSai Intelligent focuses on empowering overseas brands by leveraging Shenzhen's R&D and supply chain capabilities, rather than pursuing a self-branded global presence [19][20]. Group 6: Focus on Real-World Applications - Companies are prioritizing practical applications over trendy concepts, with a focus on solving real-world problems in sectors like AI and robotics [15][18]. - The emphasis on addressing immediate labor shortages in manufacturing through automation reflects a pragmatic approach to innovation [18][24]. Group 7: Commitment to Product Development - The new generation of Shenzhen enterprises is characterized by a commitment to product strength, with significant investments in R&D and manufacturing capabilities [25][26]. - Jialichuang's strategy of self-built production facilities and proprietary software development exemplifies the focus on quality and efficiency in manufacturing [26][27]. Group 8: Transition to Physical Economy - The shift from digital innovation to addressing complex issues in the physical economy is evident, with a focus on robotics, smart automotive technology, and AI applications [22][24]. - The integration of AI in manufacturing processes aims to enhance productivity and address labor challenges, marking a significant evolution in Shenzhen's industrial landscape [24][28].

Core Insights - The company reported a strong performance in the first half of 2025, with total revenue of 2.345 billion yuan, a year-on-year increase of 27.35%, and a net profit attributable to shareholders of 480 million yuan, up 24.29% [1] - The launch of new AI-enabled smart repair terminals has led to significant revenue growth, particularly in the TPMS product line, which saw a remarkable 56.83% increase in revenue [1] - The energy smart hub business achieved revenue of 524 million yuan, a 40.47% increase, with successful contracts from major clients including LAZ Parking and Shell [2] - AI and software business revenue reached 281 million yuan, growing 30.13%, with a gross margin exceeding 99% [3] Group 1: Financial Performance - The company achieved operating revenue of 2.345 billion yuan in H1 2025, reflecting a 27.35% year-on-year growth [1] - The net profit attributable to shareholders was 480 million yuan, marking a 24.29% increase [1] - The non-recurring net profit was 475 million yuan, showing a significant growth of 64.12% [1] Group 2: Product and Business Development - The smart repair terminal segment generated 1.54 billion yuan in revenue, a 22.96% increase, with high market recognition for AI features [1] - The automotive comprehensive diagnostic products generated 694 million yuan, up 14.14%, while ADAS calibration products reached 207 million yuan, a 17.22% increase [1] - The TPMS series products achieved 516 million yuan in revenue, reflecting a 56.83% growth, driven by policy benefits in the automotive aftermarket [1] Group 3: Strategic Partnerships and Market Expansion - The energy smart hub business reported 524 million yuan in revenue, a 40.47% increase, with contracts from top-tier clients [2] - The company secured a significant order from LAZ Parking for 50,000 commercial AC charging piles, valued at 238 million yuan [2] - Collaboration with Shell to deploy charging networks in Europe, marking a strategic expansion into the public charging sector [2] Group 4: AI Integration and Future Prospects - The AI and software business generated 281 million yuan in revenue, with a 30.13% growth and a gross margin exceeding 99% [3] - The establishment of a subsidiary for AI+inspection robots indicates rapid progress in this area, with successful validation in oilfield inspection projects [3] - Future expansion plans for AI applications across various industry scenarios are anticipated [3]

（原标题：社保基金持有31只科创板股：新进7股 增持8股） 财报季，社保基金持股动向曝光！二季度末社保基金共现身31只个股前十大流通股东榜，新进7只，增持8只。 证券时报·数据宝统计显示，社保基金最新出现在31只科创板股前十大流通股东名单中，合计持股量1.14亿股，期末持股市值合计49.79亿元。持股 变动显示，新进7只，增持8只，减持6只，10只股持股量保持不变。新进股中，中触媒、柏楚电子、苑东生物等持股量居前。 社保基金持有科创板股中，从前十大流通股东名单中社保基金家数来看，南微医学、凯立新材、八亿时空、凯因科技等4只股有2家社保基金集中 现身，持股量分别为523.30万股、503.14万股、423.10万股、339.40万股。 从持股比例看，社保基金持有比例最多的是海泰新光，持股量占流通股比例为4.20%，其次是奥浦迈，社保基金持股比例为4.00%，持股比例居前 的还有龙迅股份、凯立新材、中触媒等。持股数量方面，社保基金持股量最多的是珠海冠宇，共持有1804.68万股，道通科技、时代电气等紧随其 后，持股量分别为927.09万股、630.98万股。社保基金持股市值居前的有纳芯微、安集科技、柏楚电子，持股 ...

Core Insights - The Social Security Fund has disclosed its stock holdings as of the end of Q2, appearing in the top ten shareholders of 29 stocks on the Sci-Tech Innovation Board, with a total holding of 94.71 million shares valued at 4.23 billion yuan [1][2] Group 1: Stock Holdings - The Social Security Fund has newly entered 6 stocks and increased holdings in 8 stocks, while reducing holdings in 7 stocks, with 8 stocks remaining unchanged [1] - The stocks with the highest holdings by the Social Security Fund include Daotong Technology with 9.27 million shares, followed by Times Electric and ST Nuotai with 6.31 million and 5.72 million shares respectively [2][3] - The highest holding ratio is for Haitai Xinguang at 4.20%, followed by Aopumai at 4.00% [2] Group 2: Financial Performance - Among the stocks held by the Social Security Fund, 25 companies reported year-on-year net profit growth in the first half of the year, with Rongzhi Rixin showing the highest growth rate of 2063.42% [2] - Other notable profit growth includes Xinxing Microelectronics and Jingfeng Mingyuan, with increases of 261.78% and 151.67% respectively [2] Group 3: Market Performance - Stocks held by the Social Security Fund on the Sci-Tech Innovation Board have averaged a 22.67% increase since July [3] - The best-performing stock is Dingtong Technology, with a cumulative increase of 69.16%, followed by Yuandong Biology and Kaiyin Technology with increases of 54.02% and 39.07% respectively [3]

Macro Insights - The economic growth rate in August is expected to be supported by exports and consumption policies, despite a significant slowdown in the real estate sector, with a target of 5% annual growth remaining achievable [1][15][12] - The industrial added value in July grew by 5.7% year-on-year, with the manufacturing sector showing resilience, particularly in high-tech products and equipment manufacturing [12][13] - Fixed asset investment growth slowed to 1.6% year-on-year in the first seven months, primarily due to a decline in real estate investment, which fell by 12% [13][14] Strategy Insights - Current channels for resident capital entering the market include increasing financing balances and active personal investor accounts, leading to a positive feedback loop in the market [2] - The "anti-involution" market trend can be analyzed through policy expectations and real-world transmission, indicating a shift from theme-driven to profit-driven market dynamics [2] - The technology and small-cap sectors are expected to continue outperforming as more external funds enter the market [2] Industry Reports - The consumer electronics sector is anticipated to see significant opportunities with the upcoming release of new products, particularly in AI-related applications [8] - The coal mining industry is experiencing a continuous improvement in fundamentals, with the price of thermal coal expected to rise [8] - The healthcare sector, particularly innovative drugs, is projected to maintain a positive outlook due to improved profitability [8]

报 告 摘 要 乘势而起：市场新高趋势追踪 触及新高的个股、行业和板块可被视为市场的风向标。越来越多的研究表明动量、趋势跟踪策略的有效性。本报告旨在定期跟踪市场中创新高的个股及其 分布，以追踪市场趋势、把握市场热点。 截至2025年8月22日，上证指数、深证成指、沪深300、中证500、中证1000、中证2000、创业板指、科创50指数250日新高距离分别为0.00%、 0.00%、0.00%、0.00%、0.00%、0.06%、0.00%、0.00%。中信一级行业指数中家电、国防军工、综合、传媒、计算机行业指数距离250日新高较 近，食品饮料、煤炭、房地产、银行、消费者服务行业指数距离250日新高较远。概念指数中，数字货币、万得风电、航天军工、汽车零部件、金属非金 属、汽车、家用电器等概念指数距离250日新高较近。 见微知著：利用创新高个股进行市场监测 截至2025年8月22日，共1606只股票在过去20个交易日间创出250日新高。其中创新高个股数量最多的是机械、医药、电子行业，创新高个股数量占比最 高的是国防军工、有色金属、医药行业。按照板块分布来看，本周制造、科技板块创新高股票数量最多；按照指数分布来看 ...

Meeting Guidelines - The company has established guidelines for the 2025 First Extraordinary General Meeting to ensure the protection of shareholders' rights and maintain order during the meeting [1][2] - Shareholders must arrive 15 minutes before the meeting to register and present necessary identification documents [1][2] - Only shareholders and their proxies are allowed to speak or ask questions during the meeting, and they must register in advance [2][3] Voting Procedures - The meeting will utilize both on-site and online voting methods, with specific time slots for each [6][8] - Shareholders must express their opinions on the voting agenda as either agree, disagree, or abstain, and must sign their ballots [3][10] - A representative will be appointed to oversee the counting of votes and ensure transparency [3][9] Agenda Overview - The meeting is scheduled for September 1, 2025, at 14:30, at the company's headquarters in Shenzhen [6][8] - The agenda includes discussions on the profit distribution plan for the first half of 2025 and changes to the registered capital and company bylaws [8][11] Profit Distribution Proposal - The company reported a net profit of approximately RMB 480.47 million for the first half of 2025, with a proposed cash dividend of approximately RMB 382.93 million, representing 79.70% of the net profit [8][10] - The total share capital for the dividend distribution is 670,183,396 shares, after accounting for shares in the repurchase account [8][10] Capital Change and Bylaw Amendments - The company plans to amend its registered capital and bylaws due to the conversion of "Daotong Convertible Bonds" and the completion of the 2024 annual equity distribution [11][12] - The registered capital will be updated to RMB 670,183,396, reflecting the changes in share structure [11][12]

| 二、2025 | 年第一次临时股东大会会议议程 3 | | --- | --- | | 三、议案 | 1：关于 2025 年半年度利润分配方案的议案 5 | 深圳市道通科技股份有限公司（688208）2025 年第一次临时股东大会会议资料 一、2025 年第一次临时股东大会会议须知 深圳市道通科技股份有限公司 2025 年第一次临时股东大会会议资料 二〇二五年九月 2025 年第一次临时股东大会会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证大会 的顺利进行，根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司股 东大会规则》以及《深圳市道通科技股份有限公司章程》（以下简称"《公司章程》"）、 《深圳市道通科技股份有限公司股东大会议事规则》等相关规定，深圳市道通科技股 份有限公司（以下简称"公司"）特制定2025年第一次临时股东大会会议须知： 一、为保证本次大会的严肃性和正常秩序，切实维护股东的合法权益，出席会议 的股东及股东代理人须在会议召开前15分钟到会议现场办理签到手续，并请按规定出 示证券账户卡、身份证明文件或企业营业执照/注册证书复印件（加盖公章）、授权委 ...

Core Viewpoint - The company has achieved significant growth in revenue and profit in the first half of 2025, driven by advancements in AI technology and strategic market positioning [2][3]. Financial Performance - In the first half of 2025, the company reported revenue of 2.345 billion yuan, a year-on-year increase of 27% [2]. - The net profit attributable to shareholders was 475 million yuan, up 64% year-on-year, while the net profit after deducting non-recurring items reached 506 million yuan, reflecting a 75% increase [2]. - In Q2 2025, the company achieved revenue of 1.252 billion yuan, a 14% increase from Q1, and a net profit of 281 million yuan, up 41% from Q1 [2]. Business Segment Highlights - The company focuses on an "AI" strategy, with AI and software revenue reaching 281 million yuan, a 30.13% increase year-on-year, and a gross margin exceeding 99% [3][9]. - The AI-driven diagnostic business generated 1.54 billion yuan in revenue, a 23% increase, with specific products like TPMS and ADAS showing significant growth [4][11]. - The energy smart hub segment achieved revenue of 524 million yuan, a 40% increase, driven by new charging solutions and improved gross margins [6]. AI-Driven Innovations - The company has launched new AI-powered diagnostic tools, such as the UltraS2, which significantly enhance repair efficiency and user experience [4][5]. - The introduction of the IA1000 ADAS calibration system has improved accuracy and usability, leading to increased sales and market recognition [5]. - The company is advancing its AI capabilities across various business functions, enhancing operational efficiency and decision-making [8]. Market Trends and Opportunities - The TPMS market is experiencing rapid growth due to regulatory changes mandating the installation of tire pressure monitoring systems in new vehicles, with an estimated annual demand exceeding 30 billion yuan [11]. - The company is well-positioned to capitalize on the growing demand for AI-driven solutions in various sectors, including energy and transportation [6][12].

（原标题：社保基金持有18只科创板股：新进5股 增持6股） 财报季，社保基金持股动向曝光！二季度末社保基金共现身18只个股前十大流通股东榜，新进5只，增持6只。 证券时报·数据宝统计显示，社保基金最新出现在18只科创板股前十大流通股东名单中，合计持股量6160.75万股，期末持股市值合计31.72亿元。 持股变动显示，新进5只，增持6只，减持4只，3只股持股量保持不变。新进股中，中触媒、柏楚电子、苑东生物等持股量居前。 业绩方面，社保基金持有个股中，上半年净利润同比增长的有15只，净利润增幅最高的是容知日新，公司上半年共实现净利润1423.55万元，同比 增幅为2063.42%，净利润同比增幅居前的还有晶丰明源、鼎通科技等，净利润分别增长151.67%、134.06%。 从所属行业来看，社保基金持股主要集中在医药生物、电子、计算机行业，分别有5只、5只、3只个股上榜。 市场表现方面，获社保基金持有的科创板股7月以来平均上涨22.09%。从具体个股看，鼎通科技累计涨幅66.39%，表现最好，苑东生物、南微医 学等分别上涨54.21%、37.85%位居其后。从具体个股看，鼎通科技累计涨幅66.39%，表现最好，苑 ...